New Delhi: The Government on Friday cut prices of petrol and diesel for the first time in 22 months.
The price of petrol, which is currently sold for Rs 50.6 a litre in Delhi, will be cut by 5 rupees, while diesel, for which consumers are charged Rs 35.86 a litre, is being lowered by Rs 2.
As an interim measure, the government has decided to cut the prices with effect from Friday tonight, Petroleum Minister Murli Deora said in Delhi.
“We are reducing the prices with effect from midnight,” Deora told reporters after it was cleared at a meeting chaired by Prime Minister Manmohan Singh.
There is no change in the prices of LPG (cooking gas) and kerosene.
The Government had in June raised the prices of petrol and diesel by Rs 5 and Rs 3 a litre, respectively and that of LPG by Rs 50 a cylinder to protect oil marketing firms against losses on account of a rally in crude prices.
Crude oil had subsequently climbed to a record high of $147 a barrel in July, but has since come to $43.5 a barrel.
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